New York, February 2, 2026, 18:00 EST — After-hours trading session.
- Sandisk shares jumped roughly 15.5%, holding onto those gains after hours, last seen trading at $665.24.
- The surge came after upbeat quarterly guidance and new target price increases from Wall Street.
- Big cloud earnings this week are drawing trader attention for clues on AI data-center spending.
Sandisk (SNDK.O) shares surged roughly 15.5% on Monday, closing near $665.24 in after-hours trading. The stock fluctuated between $562.35 and $677.57 during the session, with volume hitting around 28.3 million shares.
AI-linked chip stocks surged broadly, with Advanced Micro Devices climbing 4% and Micron Technology jumping 5.5% in the cash session. Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder, noted, “The fundamentals are good and earnings are strong.” Reuters
Last week, Sandisk reported fiscal second-quarter revenue of $3.03 billion, with non-GAAP earnings hitting $6.20 per share. The company expects third-quarter revenue between $4.40 billion and $4.80 billion, alongside non-GAAP profit ranging from $12 to $14 per share. Non-GAAP figures exclude items like stock-based compensation and separation costs. Sandisk finalized its split from Western Digital on Feb. 21, 2025.
SanDisk CEO David Goeckeler said AI is driving up demand for flash storage—the chips behind solid-state drives in data centers. Speaking to Reuters, he noted that in this tight market, “Customers prefer supply over price.” SanDisk’s flash supply comes via a joint venture with Japan’s Kioxia Corp, and the two firms have extended their supply deal through 2034, Reuters added. Reuters
Analysts stepped up on Monday. Bernstein SocGen Group bumped its price target to $1,000 from $580, maintaining an Outperform rating, as reported by Investing.com. Mark C. Newman highlighted a “very strong pricing environment” when outlining the outlook. Investing.com South Africa
Sandisk’s main offerings hinge on NAND flash, a kind of non-volatile memory that retains data without power. In AI data centers, NAND works alongside quicker memory like DRAM, backing the intense demand to train and deploy models at scale.
Yet the trade can flip quickly. Memory pricing swings with the cycle, and a stumble in AI infrastructure demand or a surge in supply could squeeze margins and upend the optimistic forecasts fueling the stock.
Big cloud customers’ earnings could offer the next market clue. Alphabet is set to report on Feb. 4 after the close, followed by Amazon.com on Feb. 5 after the close, according to Nasdaq data.
Traders watching Sandisk will focus on fresh commentary about storage pricing and contract details, while seeing if the stock can maintain Monday’s gains through Tuesday. The immediate trigger remains the same driving the sector: Alphabet and Amazon’s earnings reports on Feb. 4 and Feb. 5.
